CirTran Corp (CIRX) is a consumer products company that manufactures and distributes branded goods under license from the Flynt/HUSTLER organization. Revenue is generated through royalties on gross sales of HUSTLER-branded products, with minimum guaranteed payments that are prepaid against actual royalties earned. The company operates through its GloBrands subsidiary under an Exclusive Manufacturing and Distribution Agreement signed in December 2019, covering three product license categories: condoms, energy drinks and waters, and tobacco and smoking products including natural leaf small cigars, premium cigars, electronic cigarettes, hookahs, and hookah tobacco. Distribution channels include mass retail, drug stores, supermarkets, club stores, convenience stores, casinos, nightclubs, pharmacies, and internet sales. CirTran also maintains a contract manufacturing business that provides turn-key services including design, engineering support, materials procurement, testing, and distribution for third-party customers. The company sources manufacturing through subcontractors in Central America, Thailand, Vietnam, China, and other Asian countries. The financial statements for FY2025 and FY2024 show net losses from both continuing and discontinued operations, with a stockholders' deficit on the balance sheet as of December 31, 2025.

Revenue model

Royalty-based revenue from gross sales of HUSTLER-branded consumer products, with minimum guaranteed payments prepaid against earned royalties. Marketing costs are reimbursed by the licensor. Contract manufacturing revenue is transactional, based on turn-key production services for third-party customers.

Products and services

HUSTLER-branded condoms, energy drinks, waters, natural leaf small cigars, premium cigars, electronic cigarettes, electronic cigars, hookahs, and hookah tobacco, distributed under exclusive license from the Flynt/HUSTLER organization. Contract manufacturing services including design, prototype development, volume production, materials procurement, in-circuit and functional testing, and distribution for third-party customers.

Customers and end markets

End consumers reached through mass retail, drug stores, supermarkets, club stores, convenience stores, casinos, nightclubs, pharmacies, and internet channels. HUSTLER-branded products are also distributed through approximately 200 gentlemen's clubs and adult retail stores operated by the Deja Vu organization across the United States and several foreign countries including the United Kingdom, Australia, France, Canada, and Mexico. Contract manufacturing customers are businesses seeking turn-key production without capital investment in plant or equipment.

Value-chain role

Licensee and contract manufacturer. CirTran holds an exclusive manufacturing and distribution license from the Flynt/HUSTLER organization via GloBrands, managing sourcing, production, and distribution. All manufacturing, labeling, and marketing materials require prior approval from the Flynt/HUSTLER organization. The company acts as a manufacturing intermediary, using subcontractors in Asia and Central America rather than owning production facilities.

Geographic exposure

Worldwide distribution rights under the HUSTLER licenses. Manufacturing sourced from subcontractors in Central America, Thailand, Vietnam, China, and other Asian countries. Domestic U.S. distribution supplemented by international channels in countries where the Deja Vu organization operates, including the United Kingdom, Australia, France, Canada, and Mexico.

Source: SEC 10-K, filed 2026-04-15

Industry: Beverages